McDonald’s plans to open over 8,800 new locations and add 100 million members to its loyalty program by 2027 as part of its strategy to increase sales and improve its offerings. The company aims to have a global footprint of 50,000 locations by 2027, with 900 new locations in the United States and 1,900 in international markets. McDonald’s has partnered with Google Cloud to leverage artificial intelligence (AI) technology to enhance its operations, including order accuracy and drive-thru efficiency. The company also aims to reach 250 million active members for its loyalty program to drive repeat visits and foster stronger customer loyalty.
Oil prices fell on Wednesday due to concerns about the effectiveness of OPEC+ cuts and a worsening demand outlook in China.
Google has launched Gemini, a suite of AI tools that can process text, images, audio, and video seamlessly. Gemini consists of three versions: Nano, Pro, and Ultra, with Ultra showing impressive results in benchmarks and matching human performance in some cases. Gemini was built and trained from scratch, specifically designed to process different types of inputs and excel in understanding and interpreting diverse data sources. It has demonstrated crossmodal reasoning capabilities and exceptional language processing capabilities. Real-world testing is needed to determine Gemini’s realistic performance levels, but users can already test the Pro version alongside Bard. Google plans to make Gemini available in over 170 languages and use it to enhance the Pixel Lineup and Search Generative Experience, potentially revolutionizing how we interact with and process multimodal data.
Bitcoin mining’s water consumption, which surpasses New York City’s annual water usage, has come under scrutiny.
Walmart CEO Doug McMillon expresses uncertainty about post-peak shopping season sales, highlighting the unpredictable nature of consumer spending patterns and raising questions about future consumer behavior. Despite concerns, Walmart has experienced greater resilience from consumers than expected this year, although deflation in certain items may impact revenue and profit margins. Walmart’s strategic move to offer affordable toy items and its rebound in non-food sales demonstrate efforts to cater to price-conscious consumers and drive growth.
Societe Generale issues the first-ever digital green bond on the Ethereum blockchain, aiming to improve transparency and traceability of ESG data while promoting innovation in the banking industry.
Israel has escalated its ground offensive in Gaza, primarily focused on Khan Younis, with the objective of eradicating the military presence of Hamas from the region, resulting in widespread displacement and destruction. The ongoing offensive has had devastating effects on Palestinian civilians, exacerbating the already grim humanitarian crisis in Gaza. Concerns are raised about the long-term implications for the Palestinian population and their ability to rebuild and recover.
Bitcoin’s Realized Price has recently surpassed the Long-Term Holder’s Realized Price, indicating increased investor confidence and a bullish sentiment in the market.
StubHub experienced remarkable growth in ticket sales for women’s sports in 2023, including record-breaking sales for women’s basketball Final Four tickets and the highest-ever sales for the WNBA Finals. Additionally, Las Vegas emerged as a prominent sports destination, with high ticket demand for events such as the Vegas Golden Knights and the Las Vegas Raiders, as well as Formula 1 races.
U.S. Treasury yields remained stable as investors analyzed labor market data and awaited an upcoming report, with the 10-year Treasury yield increasing slightly to 4.17% and the 2-year Treasury yield rising to 4.589%. Unit labor costs unexpectedly dropped by 1.2% from July to September, while productivity rose by 5.2%. Private payrolls grew by 103,000 in November but fell short of estimates, indicating a cooling labor market. Investors are eagerly awaiting the November jobs report for insight into the Federal Reserve’s rate hike approach, as the interest rate outlook remains uncertain. Federal Reserve Chairman Jerome Powell stated it is too early to speculate about rate cuts but did not rule out further rate hikes.